U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-30-2014, 04:56 PM
 
17 posts, read 18,475 times
Reputation: 15

Advertisements

First day of retirement is 9/1/14. Yippee!

Just setting up my pension annuity. Single, no kids. Should I not assign a beneficiary? I get paid less if I do, even for ten years. About $1300 a month if I don't. Plus social security and another pension from another job. Maybe $3,000 total a month.
Reply With Quote Quick reply to this message

 
Old 08-30-2014, 06:00 PM
 
30,508 posts, read 35,741,638 times
Reputation: 12649
Quote:
Originally Posted by JoyfullyRetired View Post
First day of retirement is 9/1/14. Yippee!

Just setting up my pension annuity. Single, no kids. Should I not assign a beneficiary? I get paid less if I do, even for ten years. About $1300 a month if I don't. Plus social security and another pension from another job. Maybe $3,000 total a month.
Why would you even consider with your being single?
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:08 PM
 
17 posts, read 18,475 times
Reputation: 15
It just seems wasteful if I die and all that money goes to waste. I could leave it to my church or a penniless friend.
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:11 PM
 
Location: MMU->ABE->ATL->ASH
9,181 posts, read 17,681,150 times
Reputation: 10060
What is the difference between your Life only number

and

Life - 10 year certain

Dollar amount?

Do you have a reason you don't think you will live for more then 10years?
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:15 PM
 
17 posts, read 18,475 times
Reputation: 15
No. My parents died at 88 and 93! I am 65.
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:16 PM
 
30,508 posts, read 35,741,638 times
Reputation: 12649
Quote:
Originally Posted by JoyfullyRetired View Post
It just seems wasteful if I die and all that money goes to waste. I could leave it to my church or a penniless friend.
Double check it may not work that way. Might be limited to a spouse.
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:19 PM
 
17 posts, read 18,475 times
Reputation: 15
No. I can leave it to anyone I want, including an entity like a church. It's TIAA-Cref.
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:23 PM
 
30,508 posts, read 35,741,638 times
Reputation: 12649
Quote:
Originally Posted by JoyfullyRetired View Post
No. I can leave it to anyone I want, including an entity like a church. It's TIAA-Cref.
gotcha
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:29 PM
 
Location: Pennsylvania
16,940 posts, read 10,839,373 times
Reputation: 30303
I'd list a beneficiary. Why not? If you're dead, you're not going to need it. If you can list a charity, do it. There's certainly a lot of need.
Reply With Quote Quick reply to this message
 
Old 08-30-2014, 06:32 PM
 
1,251 posts, read 1,314,821 times
Reputation: 4396
Well, it isn't really wasteful because the money will be in a fund that pays other people. So, basically, if you don't assign a beneficiary there will still be humans (who may need the money and be most appreciative of it) who will benefit from your shorter life. I am so sorry to be a bit morbid there.

Best wishes that you live long and prosper.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top